What: All Issues :
Housing :
Preventing Bank Foreclosures on Homes :
(H.R. 861) On an amendment that would have listed the number of vacant homes in each state that were eligible to be rehabilitated or demolished under the Neighborhood Stabilization Program, which provided state and local governments and non-profit organizations with funding to redevelop or demolish foreclosed homes.

Who:
All Members

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(H.R. 861) On an amendment that would have listed the number of vacant homes in each state that were eligible to be rehabilitated or demolished under the Neighborhood Stabilization Program, which provided state and local governments and non-profit organizations with funding to redevelop or demolish foreclosed homes.

This was a vote on an amendment by Rep. Carolyn Maloney (D-NY) that would have listed the number of vacant homes in each state that were eligible to be rehabilitated or demolished under the Neighborhood Stabilization Program (NSP), which provided state and local governments and non-profit organizations with funding to redevelop or demolish foreclosed homes. This amendment was offered a bill eliminating the NSP.

[For example, the amendment stated: “There are 52511 homes in Arizona that have been vacant 90 or more days and could be eligible to receive funding under the Neighborhood Stabilization Program.”]

Maloney urged support for her amendment: “I rise in support of my amendment to the Neighborhood Stabilization Program Termination Act [the underlying bill] which will quantify the number of vacant homes across the country and add findings to the bill listing these numbers in every State so that it will be transparent exactly what the impact will be in not continuing this program that is needed….Economists have testified before our committee and other committees that housing is as much as 25 percent of our economy, so it is critical that we do what we can to stabilize housing, not just for the benefit of the families benefiting from the housing, but also for their neighbors, for their localities, for their cities, for their States and for the overall economy.”

Rep. Gary Miller (R-CA) opposed the amendment: “…You are talking about the number of homes in each state that have been vacant 90 days or more and could ultimately receive funding under the NSP. Well, the homes are not eligible to receive funding. Entities are eligible to receive funding. Then those entities, whether they be government or private sector, can go buy those homes. The problem is they can buy any home they want to…. It [the NSP] does not restrict the price of the home being bought by the agency or the nonprofit. They can buy virtually any home they want to, and that is one of the flaws in the…[NSP].”

The House rejected this amendment by a vote of 179-246. Voting “yea” were 179 Democrats. All 237 Republicans present and 9 Democrats voted “nay.” As a result, the House rejected an amendment that would have listed the number of vacant homes in each state that were eligible to be rehabilitated or demolished under the Neighborhood Stabilization Program.